Diamond mines situated in India’s Panna district in the state of Madhya Pradesh are going to be placed on auction, as per reports. Pursuant to this, the state government is going to publish a notice inviting tenders (NIT) within a week, and the mines are expected to be auction by next month, as per reports. Following a release of Notice Inviting Tenders for the mining lease, the tender process entails around three weeks, as per the government, reports say.

Currently India has only one organised diamond producer – state-run iron ore miner NMDC.

NMDC operates the Majhgawan mine at Panna with an annual production of about 81,000 carats, as per reports. Around 400 carats are being produced from shallow diamond mines in Panna and parts of Satna district, as per reports. The proven potential of Madhya Pradesh of probable diamond reserve stands at about 10,45,000 carats with the Panna mine’s estimated total reserve being at 976.05 thousand carats, as per reports.